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How to adapt in a candidate-driven market

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When the recruitment world turns to become a candidate-driven market, hiring managers are often taken by surprise. They perhaps notice a change in attitude from candidates or offers not accepted so readily, before they realise, often too late, that the power shift has moved away from the employer and they are left trying to catch up.

In a candidate-driven market, solely targeting active leads doesn’t work, and an organisation’s recruitment strategy needs to adapt to focus on passive candidates, as well as wooing the active with an improved approach.

Here are our top five things that a company needs to change if they want to succeed in attracting the best talent.

  • A change of mind-set and attitude

Employers, including line managers, decision makers and HR, need to understand that when the demand for talent starts to exceed the supply, the power shifts to the candidate. Active recruitment methodologies such as print advertising or job boards will be less effective, and your passive recruiting methods need to come into play.

  • Relationships are crucial

The networks that your recruitment consultancy maintains will be vital as they approach passive individuals with whom they have longstanding relationships. Research has to move to the next level too, working out what the best candidates are looking for in an offer, in order to gain a competitive edge. There is also likely to be a need for delicate negotiating and persuasion when a candidate’s current employer produces a counter offer. Internal referrals should be encouraged and rewarded – your employees are your best selling tools when it comes to convincing their own contacts and peers to join them.

  • Pay attention to your brand

When a candidate in demand has their choice of employers, the strongest brands will have an edge. Audit your website, your social media presence and consider your overall image. The job offer itself is only a part of the package when candidates can pick and choose, so the bigger picture is important. Your organisation needs to be as attractive as possible to become the employer of choice.

  • Pay attention to the position itself

Everyday job descriptions, fine for active candidates, need to be rewritten. Identical roles can sound completely different with some compelling copywriting, and you want your position to stand out and attract the best. Multiple hiring criteria also limits your applicants, meaning you and your competitors will be chasing those few qualified individuals, so take the time to rethink what is essential, in order to cast the net wider.

  • The candidate experience must be better.

Everything about your hiring process needs to speed up and be focused around the candidate. People in demand won’t settle for changed appointments, dozens of interviews, or waiting for an offer. They will simply accept one elsewhere. Your internal processes need to move from the employer-driven market where you could go at your own speed, to the new norm. Everyone will need to be on board so that decisions can be made and that top talent secured.

If you would like more advice on how to tackle your recruitment plans in a candidate-driven market, call us today.